Statistics Canada released its Monthly Survey of Manufacturing on Tuesday, which showed that the Canadian manufacturing sales fell 0.2 percent m-o-m in January 2020 to CAD56.10 billion, following an unrevised 0.7 percent m-o-m decline in December 2019.

Economists had forecast a 0.5 percent m-o-m decrease for January.

According to the survey, sales decreased in 9 of 21 industries, led by lower sales in the transportation equipment (-6.0 percent m-o-m) and petroleum and coal products (-5.2 percent m-o-m) industries. Meanwhile, sales rose in 12 industries, led by the food (+2.6 percent m-o-m), non-metallic mineral product (+15.7 percent m-o-m), machinery (+4.6 percent m-o-m) and fabricated metal product (+4.6 percent m-o-m) industries.

Overall, sales of durable goods industries declined 0.6 percent m-o-m in January, while sales of non-durable goods industries increased 0.2 percent m-o-m.